Apple Inc. (NASDAQ:AAPL) is Tsfg LLC’s 8th Largest Position

Tsfg LLC grew its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,863 shares of the iPhone maker’s stock after buying an additional 124 shares during the period. Apple accounts for approximately 3.2% of Tsfg LLC’s investment portfolio, making the stock its 8th largest position. Tsfg LLC’s holdings in Apple were worth $8,881,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AAPL. State Street Corp boosted its position in shares of Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares during the period. Geode Capital Management LLC boosted its position in shares of Apple by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after purchasing an additional 4,456,954 shares during the period. Norges Bank purchased a new position in shares of Apple during the 4th quarter worth approximately $25,228,507,000. Charles Schwab Investment Management Inc. boosted its position in shares of Apple by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock worth $14,131,710,000 after purchasing an additional 1,273,148 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Apple by 5.1% during the 4th quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock worth $11,361,302,000 after purchasing an additional 3,096,696 shares during the period. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AAPL. JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a research report on Monday. The Goldman Sachs Group set a $130.00 price objective on shares of Apple in a research report on Tuesday, July 19th. Evercore ISI reduced their target price on shares of Apple from $210.00 to $180.00 and set an “outperform” rating on the stock in a report on Tuesday, June 28th. Oppenheimer reiterated an “outperform” rating and set a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. Finally, Citigroup reduced their target price on shares of Apple from $200.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $179.64.

Apple Trading Down 0.9 %

Shares of Apple stock opened at $151.60 on Wednesday. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93. The company has a market capitalization of $2.45 trillion, a P/E ratio of 24.61, a PEG ratio of 2.00 and a beta of 1.19. The company’s fifty day moving average is $143.09 and its two-hundred day moving average is $157.63.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company had revenue of $97.28 billion for the quarter, compared to the consensus estimate of $93.99 billion. During the same period last year, the firm posted $1.40 EPS. Apple’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts forecast that Apple Inc. will post 6.09 earnings per share for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were given a dividend of $0.23 per share. This is an increase from Apple’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Friday, May 6th. Apple’s dividend payout ratio (DPR) is presently 14.94%.

Apple announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the sale, the senior vice president now owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

About Apple

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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